June 14, 2024
Ict

The Global Network Access Control Market Growth is Driven by Digital Transformation

As digital transformation initiatives gain momentum across industries, network access control solutions are playing a vital role in securing organizational networks. Network access control solutions help secure corporate networks and enable secure remote access for employees, contractors and guests by allowing access based on identity, device health and security posture. These solutions authenticate user identities and their devices before granting permission to access internal applications and resources through the network. The global network access control market offers a wide range of solutions including standalone and integrated NAC solutions that can identify, assess and control networked devices and users to help organizations seamlessly adopt digital technologies securely.

The global Network Access Control Market is estimated to be valued at US$ 9,397.7 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends in the network access control market is the growing demand for cloud-based NAC solutions. Traditionally, NAC solutions involved on-premise deployment and management. However, enterprises are now increasingly adopting cloud-based NAC solutions to gain benefits such as low upfront costs, scalability, remote management and enhanced security. Cloud-based NAC solutions are managed as software-as-a-service and help organizations implement NAC functionalities without worry of upscaling hardware infrastructure. This trend is positively impacting the growth of the cloud-based NAC segment in the global market. Furthermore, increasing uptake of IoT devices across industries is another key trend driving innovation in the NAC market. Vendors are focusing on developing NAC solutions that can assess and secure large number of IoT endpoints to help organizations securely harness the power of IoT.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as the networking access control market requires significant capital investment and established players already have strong brand presence and client relationships.

Bargaining power of buyers: The bargaining power of buyers is high as there are numerous solution providers in the market offering similar technology and services. Buyers can negotiate on pricing and switch between vendors.

Bargaining power of suppliers: The bargaining power of suppliers is low as there are many component manufacturers and technology providers in the market. Switching costs are also low for vendors.

Threat of new substitutes: The threat of new substitutes is moderate as technology such as software-defined perimeter continues to emerge as an alternative to network access control.

Competitive rivalry: The competitive rivalry in the market is high due to the presence of numerous global and regional players offering similar solutions. Players differentiate based on technology, pricing, services and support.

Key Takeaways

The global Network Access Control Market is expected to witness high growth over the forecast period. The global Network Access Control Market is estimated to be valued at US$ 9,397.7 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030.

Regional analysis – North America holds the largest share in the network access control market and is expected to retain its dominance over the forecast period. GrowingBYOD trends, increasing IoT connections and stringent data security mandates are driving increased adoption of NAC solutions in the region. Asia Pacific is projected to exhibit the highest growth rate during the forecast period due to rising digitization, cloud adoption and cybersecurity investments in major countries.

Key players – Key players operating in the Network Access Control market are Auconet, Inc., Avaya, Inc., Bradford Networks, Cisco Systems, Inc., Extreme Networks, Inc., Forescout Technologies, Inc., Hewlett Packard Enterprise Development LP, Impulse Point, Key Innovator, Portnox, and Pulse Secure, LLC. Players are focusing on new product launches and partnerships to strengthen their market position.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it